Pain before gain?

Flying Kangaroo bleeds red

For the first time in over 17 years, Qantas looks set to announce a net loss for the the 2011-12 financial year, driven by weakness in its international business.

Only weeks after the airline announced a major restructuring and the consolidation of its heavy maintenance activities in Brisbane, its issued guidance that it expects its underlying profit before tax (PBT) to reach $50 million-$100 million for the year ending June 30 — only 10-20 per cent of the $552 million underlying PBT recorded last year.